Global markets and U.S. index futures were up overnight causing the indexes to gap up at the open. They began to fall at the open and continued lower all day. The dollar was flat. Gold down 1.3% and oil down 4%.
/ES gapped up but gave it all back filling the gap, and is sitting in another gap yet to be filled. Needs to hold its 10ma. 50ma still less than 200ma. 50ma converging on 250ma. Needs positive price action to avoid 50ma<250ma cross.
The Russell is sitting on its 10ma. Similar ma construction as the /ES
The Nasdaq filled a gap at 4363.5, and has so far been rejected back to the 10ma and just above a target price of 4232.25. See if can hold these levels.
Dow just below its 10ma. Hit a vM target price at 16237.
Needs to reverse here to avoid further selling toward 16000.
Needs to reverse here to avoid further selling toward 16000.
NYSE
XLF is below its 10ma. 50ma is very close, and converging on the 200ma. Bulls really need the XLF to avoid a death cross.
IBB fell below its 200ma but closed above. 10ma looks like its trying to cross back above the 200 ma.
Nikkei 225
The $ is bouncing between its 10ma and 50ma. 10ma converging on 50ma.
Bonds rallied into the 10ma and 50ma. 10ma has crossed below its 50ma. Will need very positive price action to reverse.
Gold fell 1.4%. 1067.4 triggered and on the radar.
Oil fell 4% triggering a vM to 38.4, which looks like could be a good entry point. Needs to hold above 37.75
Copper fell slightly be moving average construction looking positive. Copper is above its 10ma and 50ma, with the 10 ma converging back north towards its 50ma.
GPRO hit a vM target price of 34.34 triggering a buy order. Looks like forming a double bottom to the $90 area. Stop loss at $32.96(-4.02%)
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